Ellie Mae Connects Lenders to 100,000 Users.

Business Editors

HONOLULU--(BUSINESS WIRE)--June 18, 2001

ePASS Portal Serves as Leading Connection Between Lenders

and Mortgage Originators

Ellie Mae Inc., a provider of Internet and software solutions for the mortgage brokerage community, has achieved the position of leading vertical Internet portal for mortgage originators.

With "portal rights" for 100,000 originator desktops, Ellie Mae enables lenders to reach 90 percent of the mortgage originator population. Through the Ellie Mae ePASS(TM) Business Center (electronic Processing and Submission System), wholesale lenders can now connect to mortgage professionals accounting for about half of all loans originated industry wide. In addition, lenders can incorporate their wholesale Web sites into the ePASS network and instantly increase their visibility through common navigation, reduce their overhead and streamline the lending process.

"What we've done over the past few months marks a huge leap for lenders," explained Sig Anderman, president and CEO of Ellie. "We've taken one of the most fragmented industries in America and done the impossible. Ellie Mae has linked more than half of the industry through a single Internet portal. This means that lenders who join ePASS are connected and able to market to a major portion of the mortgage brokerage community faster and more cost effectively than ever before."

"Utilizing the ePASS Business Center can enhance the effectiveness, reach and productivity of a lender's account executives," added Anderman. "For example, lenders will eliminate the need to produce and fax rate sheets, a costly and time-consuming exercise. They will also drastically reduce the printing and updating cost of administrative manuals. Through participation in an online portal, lenders gain the ability to respond to competitive pressures immediately, changing rates and programs instantly. Lenders can target marketing promotions to a broad or select audience, making special offers and offering loan registration, locking and underwriting information. By streamlining the process, it's estimated that the lender's cost of originating a loan will drop by 75 percent."

"Lenders are adopting e-commerce solutions in record numbers," said Scott Cooley, chief strategic officer for Ellie Mae. "While they are enhancing their own Web sites, only a few have been advanced enough to address the concept of integrating their e-commerce solutions into the systems their clients use - this is where the battle will be fought and won. Mortgage brokers are seeking wholesalers that are moving large amounts of data in and out of their LOSs during every step of the process."

Using the ePASS platform, lenders can seamlessly receive loans from originators in any format - Fannie Mae/Freddie Mac file format, PDF, XML, FAX, e-mail attachment or through an auto-fill link to the lender's wholesale Web site, mapped directly into the lender's processing system. Mortgage originators can access the ePASS Business Center by visiting the ePASS Web Site at www.elliemaebiz.com. Genesis 2000 and Contour users have direct access to ePASS through their loan origination software. Calyx Point users can take advantage of Ellie Mae's `Point EZ Import,' a new function that allows Calyx users to seamlessly and instantly import loan applications into the ePASS Business Center.

About Ellie Mae

Ellie Mae, headquartered in Pleasanton, Calif., is the leading Internet enabler for the mortgage brokerage industry and the largest loan origination software provider in the U.S. Offering brokers the ePASS(SM) Business Center (electronic Processing And Submission System), a B2B e-commerce platform, as well as customized Web sites, hosting services, and LOS packages, Ellie Mae(SM) enables mortgage originators to harness the power of the Internet, giving them a competitive advantage in the fast changing residential mortgage arena. For additional information, visit www.elliemae.com or call [phone].